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Soumya Eswaran
Mon, June 1, 2026 astatine 9:55 AM CDT 4 min read
Tourlite Capital Management, an concern absorption company, released its first-quarter 2026 capitalist letter. A transcript of the missive is disposable to download here. In Q1, Tourlite Fund, LP returned 16.9%, importantly surpassing the (4.4%) instrumentality for the S&P 500 Index and 0.9% for the Russell 2000. The Fund delivered annualized returns of 11.9% since inception, compared to 11.2% and 6.3% for the indexes, respectively. Macroeconomic and geopolitical volatility continues to interaction the planetary system arsenic it enters the 2nd quarter. Despite signs of de-escalation successful the warfare and the closure of the Strait of Hormuz, unit connected the planetary lipid marketplace remains. The Fund expects pro-growth policies to guarantee economical stability, and the "Iran War" has heightened the hazard of a prolonged "higher-for-longer" interest-rate environment. In addition, you tin cheque the firm’s apical 5 holdings to find its champion picks for 2026.
In its first-quarter 2026 capitalist letter, Tourlite Capital Management highlighted FTAI Aviation Ltd. (NASDAQ:FTAI) arsenic a notable contributor. FTAI Aviation Ltd. (NASDAQ:FTAI) is an aviation institution that owns, acquires, and sells aviation equipment. On May 29, 2026, FTAI Aviation Ltd. (NASDAQ:FTAI) closed astatine $260.34 per share. One-month instrumentality of FTAI Aviation Ltd. (NASDAQ:FTAI) was 8.47%, and its shares gained 116.32% implicit the past 52 weeks. FTAI Aviation Ltd. (NASDAQ:FTAI) has a marketplace capitalization of $26.71 billion.
Tourlite Capital Management stated the pursuing regarding FTAI Aviation Ltd. (NASDAQ:FTAI) successful its Q1 2026 capitalist letter:
"As the aerospace and motor markets stay supply-constrained, FTAI Aviation Ltd. (NASDAQ:FTAI) continues to present beardown results to commencement 2026. Leveraging its compelling worth proposition and lower-cost Maintenance, Repair, and Exchange (MRE) solutions, the institution continues capturing marketplace share, presently ~12% of the CFM56 aftermarket, up from 5% conscionable 2 years ago. FTAI is presently operating astatine 55% of its existing capableness and is targeting a 25% semipermanent marketplace share. While the institution has conceded immoderate borderline to unafraid a concern with a large U.S. airline, the broader adoption of Parts Manufacturer Approval (PMA) components is expected to materially heighten EBITDA per module.
In precocious March, FTAI announced a associated task with Jereh Group, a starring planetary shaper of containerized state turbine packaging systems. This concern is designed to standard accumulation of FTAI’s Mod-1 CFM56 aeroderivative units and enactment the company's extremity of delivering 100 units successful 2027. At an mean selling terms of $25 cardinal and projected 40% EBITDA margins, which absorption expects to beryllium accretive to the halfway aerospace business, we proceed to judge FTAI Power represents a $1 cardinal EBITDA accidental adjacent year. This imaginable remains mostly overlooked successful existent expert 2027 statement estimates.
Further affirmative momentum continues wrong the company’s Strategic Capital Initiative (SCI). FTAI is nearing the afloat deployment of SCI I and plans to motorboat SCI II successful the 3rd quarter. Additionally, determination is an accidental to motorboat Power-specific SCI vehicles to further optimize aboriginal growth."
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